A Question about the Magic Keyboard with Touch ID used with an M1 MacBook Air

If I shut the machine down and leave it open, pressing the Touch ID key starts it up. If it's up and running and something errant causes a lockup, I can press and hold the Touch ID key for 10 seconds to blow the machine down.

I also use the MacBook closed and docked to a CalDigit TS3-Plus using a Satechi keyboard. I obviously can't use the internal keyboard, so I put the machine to sleep before docking it and put it to sleep rather than shut it down when ending a docked session.

The question (finally!):

If I use a Magic Keyboard with Touch ID when docked, will the Touch ID key act as a power button?

TIA!